Fubo Group, performance report
The Zhitong Finance App learned that on March 25, Fubo Group (03738) released its 2023 performance report. According to the data, the company's total revenue in 2023 was HK$2 billion, up 39% year on year, and the compound annual revenue growth since listing reached 76%. Gross profit was HK$850 million, up 44% year on year, and gross margin increased 2 percentage points year on year. Among them, the gross profit margin for the second half of 2023 was 45.8%, up about 7 percentage points from the gross profit margin of 39.2% in the first half of the year.
At the strategic level, in 2023, while ensuring that mature businesses continue to develop on a large scale, Fubo will implement a high-quality development strategy, giving priority to investing resources in strategic key areas. On the one hand, the layout provides customers with systematic solutions in the generative AI era, and new businesses can be expected in the future. On the other hand, it will accelerate the upgrade from service provider to industrial ecosystem builder, and play a key role in building a regional copyright ecosystem.